Stockwinners Market Radar for July 12, 2024 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:31 EDT Suzano acquires two U.S. industrial facilities from Pactiv Evergreen for $110M - Suzano (SUZ) has announced the acquisition of industrial assets from Pactiv Evergreen (PTVE) in the United States. This will expand the company's operations in North America and marks its entrance into the consumer and food service packaging segments in the region. The transaction is valued at $110M and includes two mills in Pine Bluff, Arkansas, and Waynesville, North Carolina, that manufacture liquid packaging board and cupstock. Subject to final regulatory approval expected later this year, these assets will add approximately 420,000 metric tonnes annually of integrated paperboard to Suzano's production capacity. Alongside the acquisition, Suzano has signed a long-term supply deal with Pactiv Evergreen to provide liquid packaging board for its converting business.

17:32 EDT Dominion Energy South Carolina submits settlement agreement in rate case - Dominion Energy South Carolina, Inc., a wholly owned subsidiary of Dominion Energy, together with other parties of record, submitted a comprehensive settlement agreement in DESC's pending general electric rate case for approval by the Public Service Commission of South Carolina. The settlement includes all parties signing on or not opposing. The requested rate increase to base rates is the first in nearly four years. Since 2019, DESC has added approximately 40,000 new electric customers to its system and invested $1.6 billion in its electric system to provide reliable, affordable and increasingly clean energy to power its customers every day. DESC and intervening parties will present the settlement to the PSC at a hearing scheduled to begin July 15. After a thorough review, DESC expects the PSC to make the final decision and adjust rates as appropriate. If approved by the PSC, the proposed settlement would allow DESC to recover some of the rising costs of investments needed to keep its plants running, systems reliable and grid secure while also listening to concerns of customers and other stakeholders.

17:23 EDT Oshkosh awarded $143.2M Army contract - Oshkosh has been awarded a maximum $143.2M firm-fixed-price, requirements contract for wheel and tire assemblies. This was a competitive acquisition with four responses received. This is a three-year contract with no option periods. The ordering period end date is July 11, 2027. Using military service is Army. Type of appropriation is fiscal 2024 through 2027 Army working capital funds. The contracting activity is the Defense Logistics Agency Land.

17:19 EDT Lockheed Martin awarded $300.94M Navy contract modification - Lockheed Martin was awarded a $300.94M cost-plus-incentive-fee modification to a previously awarded contract for software engineering and on-site support for the Australia Surface Combatant program. This contract involves Foreign Military Sales to the government of Australia. Work is expected to be completed by September 2031. Foreign Military Sales funding in the amount of $20.11M will be obligated at the time of award and will not expire at the end of the current fiscal year. Naval Sea Systems Command, Washington is the contracting activity.

17:04 EDT Pactiv Evergreen to sell Pine Bluff, Waynesville to Suzano SA for $110M in cash - Pactiv Evergreen announced that it has signed a definitive agreement to sell its Pine Bluff, Arkansas, paper mill and Waynesville, North Carolina, extrusion facility, to global paper and pulp producer Suzano S.A. for $110M in cash, subject to customary adjustments for closing amounts such as working capital. Suzano has agreed to offer employment to current employees at Pine Bluff and Waynesville. Pine Bluff produces liquid packaging board and cupstock used to make fresh beverage cartons, paper cups and other fiber-based food and beverage packaging. Waynesville provides incremental extrusion capacity for the board produced at Pine Bluff. Pactiv Evergreen and Suzano have also agreed to enter into a long-term supply arrangement at the closing of the Transaction pursuant to which Suzano would use Pine Bluff and Waynesville to supply liquid packaging board to Pactiv Evergreen's converting business. The Transaction is anticipated to close in the fourth quarter of 2024, subject to the satisfaction of customary closing conditions, including foreign antitrust approval. Based on the Transaction's estimated cash proceeds the company currently expects to record a non-cash impairment charge of approximately $320M-$340M in the third quarter of 2024. The company expects to provide updated guidance for fiscal year 2024, reflecting changes in management's assumptions resulting from signing the Agreement, concurrent with its second quarter earnings.

16:36 EDT Huture to become public through Aquaron Acquisition merger agreement - Huture and Aquaron Acquisition announced that they have entered into a definitive merger agreement that will result in Huture being operated under a holding entity named Huture Group, an exempted company incorporated in Cayman Islands and plans to trade on Nasdaq. The proposed transaction reflects an initial equity value of approximately $1B. Founded in 2020, Huture is a hydrogen-powered vehicle manufacturing company in China. Huture Motors, a wholly-owned subsidiary of the company, operates a manufacturing facility for research and development of hydrogen-powered vehicles in Shanghai. Huture has a team of skilled engineers and technicians with experience with vehicle manufacturing companies. The proposed transaction values the combined company upon the closing of the proposed transaction at an implied pro forma pre-money enterprise value of approximately $1B, at a price of $10.00 per share. Upon closing, the current shareholders of Huture will retain a majority of the outstanding shares of the combined business and Huture will designate all of the proposed directors for the combined company board. Proceeds from the proposed transaction are expected to be utilized for working capital and general corporate purposes. The board of directors of both Huture and Aquaron have unanimously approved the proposed transaction, which is expected to be completed later this year, subject to, among other things, approval by the shareholders of Aquaron and Huture, regulatory approvals and other customary closing conditions, including a registration statement on Form F-4 to be filed by the Pubco being declared effective by the SEC, and the listing application of the Pubco being approved by Nasdaq.

16:30 EDT J.M. Smucker raises quarterly dividend to $1.08 from $1.06 - The next dividend will be paid on Tuesday, September 3, 2024, to shareholders of record at the close of business on Friday, August 16, 2024.

16:10 EDT ABM CEO sells $1.22M in common stock - In a regulatory filing, ABM disclosed that its CEO Scott Salmirs sold 25K shares of common stock on July 10th in a total transaction size of $1.22M.

16:09 EDT Veeva Chief Marketing Officer to resign - The company states: "On July 10, Stacey Epstein, Chief Marketing Officer, informed Veeva Systems of her decision to resign from her position for personal reasons effective as of July 19, 2024. Veeva plans to appoint an interim leader until a replacement is named."

16:05 EDT Velo3D receives continued listing standards notice from NYSE - Velo3D announced that on July 8, 2024 it received notice from the New York Stock Exchange that it is not in compliance with Section 802.01B of the NYSE Listed Company Manual because its average total market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its stockholders' equity was less than $50 million. As of July 5, 2024, the company's 30 trading-day average market capitalization was approximately $36.6 million and its last reported stockholders' deficit, as of March 31, 2024, was approximately ($45.5) million. In accordance with NYSE procedures, within 45 days from receipt of the notice, the company intends to submit a plan to the NYSE advising it of the definitive action(s) the company has taken, is taking, or plans to take to regain compliance with the continued listing standards. If the NYSE accepts the company's plan, the company's common stock will continue to be listed and traded on the NYSE during the 18-month cure period, subject to the company's compliance with other NYSE continued listing standards and continued periodic review by the NYSE of the company's progress with respect to its plan.

15:46 EDT Compass Digital Acquisition Corp trading halted, volatility trading pause

13:57 EDT Alight Completes Sale of Payroll and Professional Services Business - Alight announced that it has closed the previously announced sale of its Professional Services segment and its Payroll & HCM Outsourcing businesses within the Employer Solutions segment to an affiliate of H.I.G. Capital. The sale of the Payroll & Professional Services business, which will operate as an independent business and has been renamed Strada, includes a transaction value of up to $1.2B, in the form of upfront gross proceeds of $1B in cash and up to $200M in seller notes, of which $150M is contingent upon Strada reaching certain 2025 financial targets, which are substantially in line with current performance levels. As previously discussed, the company anticipates using the majority of its initial net proceeds to reduce its debt, resulting in a pro forma net leverage ratio of below three times. The remaining proceeds and future cash flow generation are expected to be used for share repurchases and for general corporate purposes. "Today's announcement represents a strategic milestone that will accelerate Alight's transformation toward a simplified and focused platform company for employee wellbeing and benefits. I am pleased with the tremendous collaboration across both organizations in accomplishing this pivotal transaction and commencing our strategic partnership with substantial momentum while preserving our client value proposition. Together, we will continue to keep our clients front and center, delivering improved cost, experience and productivity outcomes for organizations and their valued employees," said Chief Executive Officer Stephan Scholl. Alight expects to disclose its historic pro forma results for the continuing business four days after the completion of the transaction. In conjunction with the disclosure, Alight will post a webcast to the Events and Presentations section of the company's Investor Relations website at 8:30 a.m. ET on July 18, the company stated.

13:50 EDT Legend Biotech up 10% after report claims company received takeover interest

13:03 EDT Baker Hughes reports U.S. rig count down 1 to 584 rigs - Baker Hughes reports that the U.S. rig count is down 1 from last week to 584 with oil rigs down 1 to 478, gas rigs down 1 to 100 and miscellaneous rigs up 1 to 6. The U.S. Rig Count is down 91 rigs from last year's count of 675 with oil rigs down 59, gas rigs down 33 and miscellaneous rigs up 1. The U.S. Offshore Rig Count is unchanged at 23, up 5 year-over-year. The Canada Rig Count is up 14 from last week to 189, with oil rigs up 11 to 126, gas rigs up 3 to 63. The Canada Rig Count is up 2 from last year's count of 187, with oil rigs up 12, gas rigs down 10 and miscellaneous unchanged.

12:46 EDT Grifols board votes to grant Brookfield access to information - Grifols announced that its board unanimously adopted resolutions regarding the announcement of a possible transaction to be carried out jointly by the family shareholders and Brookfield Capital Partners. The company will establish a committee of the board composed exclusively of independent directors, the purpose of which will be the ongoing monitoring of the progress of the transaction and the presentation of proposals to the board regarding resolutions that may need to be adopted in relation to it. Grifols will also grant Brookfield access to evaluate certain information of the company as part of the work aimed at the potential submission of a takeover bid for the company's shares.

12:19 EDT Stardust Power Inc trading halted, volatility trading pause

12:13 EDT Arbor Realty falls 2% to $15.21 after Bloomberg report of DOJ probe

12:01 EDT Amwell falls -6.4% - Amwell is down -6.4%, or -52c to $7.64.

12:01 EDT Wells Fargo falls -6.8% - Wells Fargo is down -6.8%, or -$4.11 to $56.05.

12:00 EDT Nuscale Power rises 16.1% - Nuscale Power is up 16.1%, or $2.10 to $15.16.

11:33 EDT Glass Lewis recommends Masimo shareholders vote for Politan director nominees - Politan Capital Management an 8.9% shareholder of Masimo Corporation, announced that leading proxy advisory firm Glass, Lewis & Co. has recommended shareholders vote FOR the election of Politan's nominees, Darlene Solomon and Bill Jellison, to the company's Board of Directors at the Annual Meeting of Stockholders, scheduled for July 25, 2024. Glass Lewis's report resoundingly affirms that change is urgently needed at this Annual Meeting, stating: "...[W]e believe the most exigent near-term impetus supporting the election of Mr. Jellison and Dr. Solomon is the need to ensure a thorough and independent assessment of the prospective separation of the consumer segment." Glass Lewis details Masimo's poor governance and continued underperformance, describing Masimo's analysis as "disturbing," "deeply concerning" and seeking to "accept little to no accountability for significant losses suffered by shareholders." Quentin Koffey, Managing Partner and Chief Investment Officer of Politan, stated: "We appreciate Glass Lewis's support for both of our nominees - Darlene and Bill - and the validation of our belief that true independent oversight is needed on Masimo's Board. Fundamentally, Glass Lewis's report confirms our view that the arguments, excuses and attacks put forth by Mr. Kiani and his affiliated directors lack credibility and should be viewed warily by shareholders. If elected, we are confident that Darlene and Bill would work constructively in the boardroom during this critical period to safeguard shareholder value and help ensure the Company is positioned to realize its full potential."

11:06 EDT Unum Group boosts quarterly dividend by 15% to 42c - Unum Group declared a quarterly dividend of 42c per share on its common stock to be paid August 16, to stockholders of record as of July 26. The dividend is a 15% increase from last quarter's 36.5c per share dividend.

11:04 EDT Tegna, Seattle Kraken partner with Gray Media in Alaska - TEGNA Inc. (TGNA), The Seattle Kraken, and Gray Media (GTN) announced that Gray's KAUU in Anchorage and KYEX in Juneau will expand the Kraken broadcast network into The Last Frontier. This follows the recent announcement that TEGNA will broadcast all locally available Kraken games, approximately 70 regular season games each year, on KING 5 and KONG in Seattle, KGW in Portland and KREM and KSKN in Spokane. Additional broadcast partners in Washington and Oregon are expected to be announced in the coming weeks. "Our partnership with the Kraken is all about their passionate fans and delivering more games to more people in more homes," said Brad Ramsey, senior vice president, media operations, TEGNA. "We are thrilled with the early momentum we are seeing from advertisers and sponsors in Seattle, Portland, and Spokane, and grateful to our friends at Gray for helping us expand free over-the-air Kraken games beyond the continental United States."

10:29 EDT Muddy Waters playing for Blackstone Mortgage to cut dividend in second half - Muddy Waters is playing for Blackstone Mortgage to cut its dividend in the second half of the year, Carson Block stated while being interviewed on Bloomberg Television. Muddy Waters' Block had previously indicated he was getting "more bearish" on Blackstone Mortgage when previously speaking on Bloomberg TV.

10:23 EDT Wells Fargo continues to de-risk office exposure

10:10 EDT Wells Fargo on track to update all branches within next five years, says CEO

10:08 EDT Inspire Veterinary Partners Inc trading resumes

10:07 EDT Wells Fargo CEO: Up to regulators to make judgments about bank's work - Comments taken from Q2 earnings conference call.

10:02 EDT Emmaus receives 'No Action Indicated' inspection classification from FDA - Emmaus Life Sciences announced receiving the "No Action Indicated" classification following a routine inspection by the United States Food and Drug Administration of Emmaus' Postmarketing Adverse Drug Experience compliance program. The PADE program aims to shield patients from poor quality, unsafe, and ineffective dugs through proactive compliance strategies and risk-based enforcement actions. A major objective of the PADE program is to ensure that accurate, reliable, and timely safety data are submitted to the FDA in compliance with postmarking laws and regulations. The two and a half-day inspection by two FDA Consumer Safety Officers found no objectional condition or practice in the six years that Endari has been marketed and thereby received a "No Action Indicated" inspection classification.

10:01 EDT Guaranty Bancshares falls -4.8% - Guaranty Bancshares is down -4.8%, or -$1.57 to $30.99.

10:00 EDT Hims & Hers rises 6.1% - Hims & Hers is up 6.1%, or $1.28 to $22.33.

10:00 EDT Archer Aviation rises 7.2% - Archer Aviation is up 7.2%, or 33c to $4.90.

09:48 EDT ASE Technology falls -4.4% - ASE Technology is down -4.4%, or -55c to $11.95.

09:47 EDT Wells Fargo falls -6.9% - Wells Fargo is down -6.9%, or -$4.14 to $56.02.

09:47 EDT Roblox rises 4.6% - Roblox is up 4.6%, or $1.76 to $40.28.

09:43 EDT Monterey Capital Acquisition Corp trading halted, volatility trading pause

09:38 EDT Vsee Health Inc trading resumes

09:33 EDT Vsee Health Inc trading halted, volatility trading pause

09:31 EDT JPMorgan says special dividend 'not really our preference' - Says wants sustainable dividend. Says dialogue on M&A "quite robust." Says "reasonably cautious" on 2H24. Says deposit margins "well above historical norms." Says deposit migration will continue to be headwind to NII. Says share repurchases will governed by "whatever make sense at the moment." Says trying to get away from the notion of a "pace" of share buybacks.

09:30 EDT SUNS Stock trading halted, volatility trading pause

09:11 EDT Expedia announces multiyear agreement with Wells Fargo, Mastercard - Expedia Group (EXPE) announces a multiyear agreement with Wells Fargo (WFC) and Mastercard (MA) to launch two new co-branded credit cards. Designed to complement One Key, Expedia Group's groundbreaking loyalty program, the One Key Card and One Key+ Card will both offer more flexibility, savings and perks for U.S. travelers. Launching with all types of travelers in mind, the One Key Cards offer a host of benefits, including the ability to earn rewards as OneKeyCash, which can be used across Expedia, Hotels.com and vacation rental site Vrbo to book eligible hotels, vacation rentals, car rentals, activities and flights.

09:08 EDT Deckers Outdoor announces board approval of six-for-one forward stock split - Deckers Brands announced that its board of directors approved a six-for-one forward stock split. The board also approved a proportionate increase in the number of authorized shares of common stock and preferred stock to accommodate the stock split. The stock split and the authorized share increase are subject to stockholder approval of an amendment to the company's Certificate of Incorporation and the filing of the amendment with the Secretary of State of the State of Delaware. The company intends to include a proposal seeking stockholder approval for this amendment at its upcoming annual meeting of stockholders, to be held on September 9. If the company's stockholders approve the proposal, the company expects to file the charter amendment, and to implement the stock split and the authorized share increase, promptly following the 2024 annual meeting.

09:05 EDT United-Guardian board increases quarterly dividend 40% to 35c per share - United-Guardian announced that the company's Board of Directors, at its meeting on July 10, 2024, declared a cash dividend of $0.35 per share, to be paid on July 31, 2024, to all stockholders of record as of the close of business on July 23, 2024. This will be the 29th consecutive year that the company has paid a dividend. Donna Vigilante, President of United-Guardian, stated, "I am pleased to report that the company's Board of Directors has decided to distribute a dividend of $0.35 per share to our stockholders. This one dividend is equal to the total of the last two dividends the company paid, and represents a 40% increase over the $0.25 per share dividend the company paid earlier this year, and a 250% increase over the $0.10 dividend paid last July. While we remain committed to using a portion of our earnings to support our growth initiatives, we also believe it is important to provide strong dividends to our stockholders when it is in the best interests of the company and its stockholders to do so."

09:01 EDT Ameris Bancorp announces transfer of listing to NYSE from Nasdaq - Ameris Bancorp announced that it is transferring the listing of its common stock to the New York Stock Exchange from The Nasdaq Stock Market. Ameris's common stock is expected to begin trading on the NYSE on Tuesday, July 23, 2024, and will continue to be traded under its current ticker symbol "ABCB" after the transfer. Ameris's common stock is expected to continue to trade on Nasdaq until the close of the market on Monday, July 22, 2024. To commemorate the event, members of Ameris's executive team and its board of directors will ring the Opening Bell at the NYSE on Tuesday, July 23, 2024.

08:45 EDT JPMorgan says 'cautiously optimistic' about pipeline - Says demand for new loans "remains muted." Says underlying performance of company "quite strong." Comments taken from Q2 earnings conference call.

08:41 EDT Navitas Semiconductor to team up with J Rep to show Techno-Frontier solutions - Navitas Semiconductor announced it will team up with its Japanese sales and marketing partner, J Rep, at Japan's largest power electronics trade show Techno-Frontier to highlight solutions including a hybrid GaN-SiC AI Server PSU, a 3-phase GaN industrial motor drive requiring no heatsink, and a GaN-based 8K-LED TV power supply which enables the thinnest and highest-efficiency solution. Navitas and J Rep will highlight key technologies and new products including GaNSafe. Gen-4 GaNSense Half-Bridge ICs - the most integrated GaN devices, and Gen-3 Fast GeneSiC power FETs, using 'trench-assisted planar' technology for world-leading performance over temperature, ideal in EV and industrial systems.

08:38 EDT Fluent announces strategic partnership with Hy-Vee - Fluent announced a media partnership with Hy-Vee, Inc. and its retail media network, RedMedia. Under the agreement, Hy-Vee's online customers will be eligible to receive special post-purchase offers for products and services outside of grocery items. "This partnership enables us to expand our existing retail media network to include opportunities for large-scale, non-endemic advertising," said Britt Polihronis, RedMedia's Vice President of Operations. "By utilizing Fluent's post-purchase platform, we hope to enhance the shopping experience for our customers by providing offers on other goods and services that may interest them."

08:37 EDT Safe & Green CEO Paul Gavin elects to receive part of 2023 bonus in shares - Safe & Green Holdings announces that Paul Galvin, CEO of the Company, has elected to receive part of his 2023 performance bonus in shares of common stock of the Company in lieu of cash, reiterating his commitment to the Company. Mr. Galvin will receive 69,960 shares of common stock of the Company, which represents approximately $165,805 of Mr. Galvin's $350,000 2023 performance bonus, based on the closing price of the Company's common stock on July 9, 2024.

08:36 EDT Vicinity Motor announces CARB certification for VMC 1200 Class 3 truck - Vicinity Motor announced that the VMC 1200 class 3 electric truck has received certification from the California Air Resources Board as a zero-emission vehicle for the 2024 Model Year. CARB certification allows the sale of the VMC 1200 in California, as well as other states that have adopted CARB standards including Connecticut, Colorado, Delaware, Maine, Maryland, Massachusetts, Minnesota, Nevada, New Mexico, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Vermont, Virginia and Washington. With this certification, the VMC 1200 can now be sold in every U.S. state. In addition, CARB certification allows Vicinity to participate in California's HVIP incentive program, as well as comparable programs in other states, which provide incentives to reduce the purchase cost of commercial electric vehicles.

08:34 EDT Atlasclear Holdings launches next-generation online account application - AtlasClear Holdings announced the launch, in collaboration with Pacsquare Technologies, of a next-generation online account application that it expects will streamline the onboarding process for its clients in the U.S.

08:31 EDT AbbVie submits regulatory applications to FDA, EMA for upadacitinib - AbbVie announced that it has submitted applications for a new indication to the U.S. FDA and European Medicines Agency for upadacitinib for the treatment of adult patients with giant cell arteritis.

08:12 EDT Southwest, Archer sign MOU to develop plans for electric air taxi network - Southwest Airlines (LUV) and Archer Aviation (ACHR) have signed a memorandum of understanding, or MOU, to develop operational plans for electric air taxi networks utilizing Archer's eVTOL aircraft at California airports where Southwest operates. Archer Aviation is a leading manufacturer of electric vertical takeoff and landing, or eVTOL, aircraft. Southwest and Archer intend to collaborate on a concept of operations that lays the foundation for integrated electric air taxi networks that would support California airports and the surrounding communities that Southwest serves. This collaboration will include partnering with Southwest employees and respective unions, including SWAPA, to maintain and improve efficient operations. This is a key step toward potentially offering Southwest customers an airport transport service that saves time by streamlining the door-to-door passenger journey.

08:05 EDT Enovis releases AltiVate Reverse Glenoid System - Enovis introduced the one-tray AltiVate Reverse Glenoid System, which expands the glenoid implant offering of the market-leading AltiVate Reverse to include modular, augmented baseplates. Based on the Company's central screw fixation design with a minimum of 10 years of clinical follow-up1, the AltiVate Reverse Glenoid System received FDA 510(k) clearance in May 2024 for use in reverse shoulder arthroplasty, including revisions, making it an important addition to Enovis' industry-leading AltiVate products. "We are very pleased to offer a modular, augmented baseplate based on the proven central screw fixation principle of our legacy Reverse Shoulder Prosthesis system," said Louie Vogt, Group President of Enovis(TM) Reconstructive Business Group. "This addition to our market-leading AltiVate Reverse continues our long history of surgeon-driven innovation and commitment to exceptional patient outcomes."

08:04 EDT Clearmind Medicine to present research at Psychedelic Medicine - Israel 2024 - Clearmind Medicine announces its participation in the upcoming Psychedelic Medicine - Israel 2024 conference. This event will take place in Tel Aviv, Israel from July 28th to 30th, bringing together leading experts and researchers from around the world in the field of psychedelic medicine. Clearmind's CEO, Adi Zullof-Shani, Ph.D., will present a compelling talk titled "5-Methoxy-2-Aminoindane as a Binge Behavior Regulator." This presentation is scheduled for Monday, July 29th, in the Research Presentations 1 session, from 9:00 a.m. to 10:40 a.m. IDT. Dr. Zullof-Shani will provide insights into MEAI's potential to regulate binge behaviors, highlighting its innovative application in treating addiction-related disorders. Additionally, researchers Prof. Joseph Tam and Dr. Saja Baraghithy from the Obesity and Metabolism Laboratory in The Hebrew University of Jerusalem, will present their abstract titled "5-methoxy-2-aminoindane a mild psychedelic agent, attenuates diet-induced obesity." This presentation is scheduled for Tuesday, July 30th, in the Research Presentations 3 session, from 2:00 p.m. to 4:05 p.m. IDT. Their presentation will delve into the promising results of MEAI in attenuating obesity and its related metabolic complications, showcasing its potential as a therapeutic agent in obesity management. 5-Methoxy-2-Aminoindane as a Binge Behavior Regulator: Dr. Zullof-Shani will discuss the unique properties of MEAI, a psychoactive aminoindane derivative. MEAI has shown promise in reducing the desire to consume alcoholic beverages while inducing a euphoric, alcohol-like slightly tipsy but controlled experience. This presentation will explore MEAI's potential as a regulator of binge behaviors, providing a novel approach to addiction treatment. 5-methoxy-2-Aminoindane, a Mild Psychedelic Agent, Attenuates Diet-induced Obesity; Dr. Baraghithy will present her research findings on the weight loss effects of MEAI. The study demonstrated that MEAI significantly reduces overweight and adiposity in a diet-induced obesity mouse model. The researchers will share compelling evidence that MEAI reduces fat mass, preserves lean mass, improves glucose metabolism, reduces hepatic steatosis, and increases energy expenditure, making it a promising therapeutic candidate for obesity management.

07:47 EDT Foresight Autonomous secures follow-up order from Japanese vehicle manufacturer - Foresight Autonomous announced the signing of an agreement for a follow-up paid software proof of concept project with a leading Japanese vehicle manufacturer. The software project follows the successful completion of two POC projects, as reported by the company on February 5, 2024. The vehicle manufacturer seeks to improve existing safety features in its vehicles already equipped with level 2 and level 3 autonomous driving features. Using its own designated cameras and hardware, the vehicle manufacturer intends to conduct a comprehensive evaluation of the software capabilities of ScaleCam to detect objects accurately and will assess the feasibility of rapid software integration. ScaleCam is Foresight's 3D perception modular stereoscopic vision solution made up of two separate cameras.

07:32 EDT Verastem doses first patient in GFH375/VS-7375 trial - Verastem announced that the first patient has been dosed in a Phase 1/2 trial in China, conducted by GenFleet Therapeutics, evaluating GFH375/VS-7375, a KRAS G12D inhibitor.

07:26 EDT Joby jumped Thursday after flying hydrogen air taxi 523 miles - Joby Aviation yesterday morning announced it has successfully flown a "first-of-its-kind" hydrogen-electric air taxi demonstrator 523 miles, with water as the only by-product. "The aircraft, which takes off and lands vertically, builds on Joby's successful battery-electric air taxi development program, and demonstrates the potential for hydrogen to unlock emissions-free, regional journeys that don't require a runway," the company said in a statement. Shares of Joby closed Thursday up 20%, or $1.02, to $6.21.

07:24 EDT Wells Fargo sees increasing Q3 dividend to 40c per share, subject to approval - Comments taken from Q2 earnings conference call presentation slides.

07:22 EDT JPMorgan sees FY24 adjusted expense of ~$92B, market dependent - Adjusted expense excludes firmwide legal expense and includes the increase to the FDIC special assessment in 1Q24 and the Foundation contribution in 2Q24.

07:14 EDT MidCap, Apollo Senior Floating, Tactical Income announce merger closing date - MidCap Financial Investment Corporation (MFIC), Apollo Senior Floating Rate Fund Inc. (AFT), and Apollo Tactical Income Fund Inc. (AIF) announced that the previously announced mergers of the CEFs with and into MFIC are currently expected to close, subject to the satisfaction of customary closing conditions, prior to the opening of the Nasdaq Global Select Market on Monday, July 22, 2024. In addition, as previously announced, an affiliate of Apollo Global Management Inc. will make a special cash payment of $0.25 per share to each AFT and AIF stockholder in connection with the closing, which will be payable on or around July 22, 2024, to AFT and AIF stockholders of record as of the closing date of the mergers. The $0.25 per share special payment is in addition to the previously declared pre-merger distributions which were declared on July 1, 2024. Upon the closing of the mergers, stockholders of each CEF will receive a number of MFIC shares based on the ratio of the net asset value per share of the applicable CEF divided by the NAV per share of MFIC, with the applicable NAVs to be determined shortly before closing. The final Exchange Ratios will be announced in a future press release. Following the closing of the mergers, the common stock of MFIC, as the surviving entity, will continue to trade on the Nasdaq Global Select Market under the ticker symbol "MFIC." Shares of AFT and AIF common stock are expected to cease trading on The New York Stock Exchange following the close of regular trading on July 19, 2024.

07:11 EDT Fastenal saw 'growth with larger customers' in Q2 - "We experienced higher unit sales in the second quarter of 2024 primarily due to growth with larger customers and Onsite locations opened in the last two years. The impact of product pricing on net sales in the second quarter of 2024 was a decline of 30 to 60 basis points, in contrast to the second quarter of 2023, which experienced an increase of 190 to 220 basis points. The decline reflects lower fastener pricing, which is a by-product of lower transportation costs, as well as lower pricing in certain safety and other products categories."

07:09 EDT Bally's secures funding from Gaming and Leisure Properties - Bally's (BALY) announced it has entered into a binding term sheet for a strategic construction and financing arrangement with Gaming and Leisure Properties (GLPI) including funding to complete the construction of Bally's permanent casino development in the City of Chicago. An affiliate of Gaming and Leisure Properties has reached an agreement to acquire the real estate underlying the project and has agreed to amend the existing land lease via a new master lease agreement with Bally's Chicago as tenant, where the rent will be amended to $20M per annum, subject to annual escalators, reflecting the purchase price paid by GLPI for the land. The Chicago MLA can provide up to additional $940M of construction financing funding for the project's "hard costs" through monthly draws, subject to certain conditions and requisite approvals. The Chicago MLA will have an initial term of 15 years, with a specified number of successive options for renewal. Amounts funded by GLPI under the construction funding facility will result in additional rent based upon an 8.5% cap rate for the incremental amounts funded. The binding term sheet also provides for Gaming and Leisure Properties to acquire and lease back certain real property interests underlying Bally's Kansas City and Bally's Shreveport for $395M in total consideration, in exchange for $32.2M in initial annual rent with annual escalators consistent with Bally's existing master lease agreement with GLPI. Bally's expects to use all the proceeds from the sale leaseback transactions to repay amounts currently drawn under its $620M revolving credit facility and for general corporate purposes. Bally's also expects to amend its contribution agreement with Gaming and Leisure Properties and has reiterated its intention to sell and lease back its Twin River Lincoln property to GLPI prior to the end of 2026 for $735M, with related initial annual rent of $58.8M. As a part of the amendment, GLPI will be granted a right to call the Lincoln transaction beginning in October 2026, coinciding with the scheduled maturity of Bally's revolving credit facility. All such transactions are subject to required regulatory approvals. The Chicago MLA and construction funding arrangement will be obligations of Bally's Chicago, as tenant. The arrangement is expected to contain customary representations by Bally's Chicago and is expected to contain funding conditions, in each case, which are customary and reasonable for large scale casino resort developments of this type. Reflecting these transactions, GLPI will provide in aggregate up to $2.07B of financing to Bally's, thereby further cementing the companies' long-term strategic alliance. GLPI has a strong history of successful development experience and construction oversight of casino resort projects, and Bally's looks forward to benefitting from their experience and expertise as a strategic stakeholder for the project. Bally's expects the new funding and development agreements with Gaming and Leisure Properties, combined with certain proceeds from the expected sale leaseback transactions, the planned, previously announced, initial public offering of Bally's Chicago and Bally's financial resources including cash flows from operations, will fully fund the development expenditures necessary to complete the project. Bally's Chicago announced its intention to build the 500-unit hotel tower concurrent with its casino entertainment complex by locating the hotel tower on the southern end of the development site. Originally intended for the northern end, the plan was revised due to potential risks of damage to portions of Chicago's underground infrastructure. The new plans resolve those concerns, and Bally's Chicago has re-imagined the new integrated complex across a single phase of construction.

07:05 EDT Global Tech Industries appoints Rahbari as Chief Operating Officer - Global Tech Industries announced that the Company signed an employment agreement on July 2, 2024 with Luke Rahbari appointing him as Chief Operating Officer. Pursuant to the terms of the Agreement, Rahbari shall assume the role of Chief Executive Officer effective as of August 1, 2024, subject to certain conditions as set forth in the Agreement and the approval by the Company's board of directors. Planning for this strategic initiative began in December 2023, when the Company first engaged Rahbari as a business consultant, tasked with, among other initiatives, constructing a viable succession plan for senior management aimed at positioning the Company for future success.

07:03 EDT Canada Goose chief digital, information officer Matt Blonder departs - Canada Goose announced Alfredo Tan as its new chief digital and information officer, effective August 7. Tan takes over for Matt Blonder who will be departing Canada Goose. As chief digital and information officer, Alfredo Tan will be responsible for the strategy, implementation and adoption of all consumer-facing digital platforms. He will drive the brand's digital capabilities and lead the teams responsible for developing the company's digital roadmap across digital sales channels, as well as the company's IT, Digital Media & Marketing, and Consumer Insights. Alfredo and his team will also be responsible for Canada Goose's future Data and AI Strategy to enhance commercial and enterprise performance.

06:58 EDT Wells Fargo reports Q2 net interest income decreased 9% - In Q2: Net interest income decreased 9%, due to the impact of higher interest rates on funding costs, including the impact of lower deposit balances and customer migration to higher yielding deposit products in Consumer Banking and Lending and Wealth and Investment Management, higher deposit costs in Commercial Banking and Corporate and Investment Banking, as well as lower loan balances, partially offset by higher yields on earning assets. Noninterest income increased 19%, driven primarily by higher trading revenue in our Markets business, higher investment banking fees, an increase in asset-based fees in Wealth and Investment Management on higher market valuations, the impact from the adoption of a new accounting standard for renewable energy tax credit investments5, and improved results from our venture capital investments. Noninterest expense increased 2%, driven by higher operating losses including higher customer remediation accruals for historical matters, an increase in revenue-related compensation predominantly in Wealth and Investment Management, and higher technology and equipment expense, partially offset by the impact of efficiency initiatives including lower salaries expense and professional and outside services expense. Provision for credit losses in second quarter 2024 included a modest decrease in the allowance for credit losses, as a higher allowance for credit card loans was more than offset by lower allowances for most other loan portfolios.

06:51 EDT JPMorgan reports Q2 ROE 23%; ROTCE 28% - Reports Q2: Expense of $23.7 billion, including a $1.0 billion donation of Visa shares to pre-fund contributions to the Firm's Foundation; reported overhead ratio of 47%; managed overhead ratio of 47%; significant items reduced reported overhead ratio by 6ppts. Credit costs of $3.1 billion included $2.2 billion of net charge-offs and an $821 million net reserve build. Average loans up 6% YoY including First Republic, flat QoQ; average deposits down 1% YoY, flat QoQ.

06:46 EDT Merck completes acquisition of EyeBio - Merck announced the completion of the acquisition of Eyebiotech Limited. EyeBio is now a wholly-owned subsidiary of Merck. Under the terms of the agreement, Merck, through a subsidiary, has acquired all outstanding shares of EyeBio. As previously disclosed, this transaction is being accounted for as an asset acquisition. Merck will record a charge of approximately $1.3B, or approximately 50c per share in the third quarter of 2024, which will be included in non-GAAP results. As a matter of policy, Merck provides updates to its financial outlook once each quarter and will provide an update to its full-year financial outlook when it reports second-quarter 2024 results on July 30.

06:36 EDT AT&T drops 3% in premarket trading after disclosing new hack

06:32 EDT AT&T doesn't believe stolen data is publicly available

06:31 EDT AT&T: Data, mostly from 2022, was downloaded in April

06:29 EDT AT&T discloses major hack of call data for most mobile users

06:09 EDT Biogen reports Leqembi approved for treatment of Alzheimer's in Israel - Eisai (ESAIY) and Biogen (BIIB) announced that humanized anti-soluble aggregated amyloid-beta monoclonal antibody Leqembi has been approved in Israel as a treatment of Alzheimer's disease. Treatment with Leqembi should be initiated in patients with mild cognitive impairment or mild dementia stage of disease, the population in which treatment was initiated in clinical trials, the companies stated.

05:38 EDT Tesla falls 1% to $237.60 after UBS downgrades rating to Sell

05:20 EDT Pixelworks enters pact with Seasun Games to optimize mobile visual processing - Pixelworks announced its recent collaboration with Seasun Games to optimize the mobile visual processing for JX3 Ultimate Mobile. This large-scale massively multiplayer online, or MMO, game, supporting cross-platform data inheritance and interconnection, is this latest mobile game to integrate and be IRX rendering acceleration certified. When played leveraging the IRX rendering acceleration technology on a certified mobile device, JX3 Ultimate can be experienced with 120fps visual effects, together with low power consumption, freeing players to fully explore the game's vast and beautiful martial arts world.

05:09 EDT DouYu announces ex-dividend date - DouYu announced that Nasdaq has set September 3 as the ex-dividend date for the special cash dividend that was announced on July 3. As the special cash dividend of $9.76 per ordinary share, or $9.76 per American Depositary Share, or ADS, net of a handling fee of $0.05 per ADS charged by the depositary bank, exceeds 25% of the company's ADS price, pursuant to the rules of Nasdaq, the ex-dividend date is September 3, the first business day following the dividend payment date of August 30.